SapuraKencana Petroleum Bhd's $898 million acquisition of all equity interest in Newfield Malaysia Holdings held by Newfield Exploration Co. will give the firm a foothold in the country's upstream sector.

SapuraKencana Petroleum Bhd advanced to a four-month high after agreeing to buy Newfield Exploration Co.'s stakes in offshore Malaysian fields for $898 million, helping send the country's benchmark index to a record.

A completed lay system is scheduled to be installed on the Brazilian-built, SapuraKencana – Seadrill operated vessel in late 2014.

SapuraKencana Petroleum Bhd successfully launched its first pipe laying vessel, Sapura Diamanté on Friday. The launch marks a significant new chapter for the group's expansion into Brazil's giant oil and gas sector.

Realmild Sdn Bhd has no intention of cashing out of Labuan Shipyard and Engineering Sdn Bhd (LSE) which owns Sabah and Sarawak’s largest shipyard fabrication facility, says its chief executive officer Datuk Rahim Zin. LSE, equally owned by Realmild and SapuraKencana Petroleum Bhd, took over the facilities, operation and business activities of Sabah Shipyard Sdn Bhd (SSSB) sometime in 2005, after SSSB went into liquidation.

TL Offshore, a subsidiary of one of Malaysia’s largest oilfield services providers SapuraKencana Petroleum Bhd, has decided not to extend a charter deal for the ‘Enterprise 3′ derrick lay barge. The barge will keep on working for three more weeks.

SapuraKencana Petroleum Bhd and Vestigo Petroleum Sdn Bhd are close to bagging a risk service contract for the development of the Bubu oil field, off the coast of Terengganu.

SapuraKencana Petroleum Bhd and Ezion Holdings lead a group of top 20 Malaysia- and Singapore-listed companies that grew assets by 30 percent to $8.4 billion last year, according to Reuters analysis of company data.

SapuraKencana Petroleum Bhd has secured US$40m (RM127.5m) charter for its tender assist rig SKD T-9 from PTTEP International Ltd for its Zawtika developmennt drilling campaign offshore Myanmar.

Financial 2015-2016 forecast earnings for SapuraKencana are maintained on anticipation that the completion of the acquisition of Seadrill’s tender rigs will propel earnings momentum further.